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Political orientation of government and stock market returns

Bialkowski, Jedrzej; Gottschalk, Katrin and Wisniewski, Tomasz Piotr (2007). Political orientation of government and stock market returns. Applied Financial Economics Letters, 3(4) pp. 269–273.

DOI (Digital Object Identifier) Link: https://doi.org/10.1080/17446540701222359
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Abstract

Prior research documented that the US stock prices tend to grow faster during the Democratic than the Republican administrations. This article examines whether stock returns in other countries also depend on the political orientation of the incumbents. An analysis of 24 stock markets and 173 different governments reveals that there are no statistically significant differences in returns between left-wing and right-wing executives. Consequently, international investment strategies based on the political orientation of countries’ leadership are likely to be futile.

Item Type: Journal Item
Copyright Holders: 2007 Taylor & Francis
ISSN: 1744-6554
Academic Unit/School: Faculty of Business and Law (FBL) > Business > Department for Accounting and Finance
Faculty of Business and Law (FBL) > Business
Faculty of Business and Law (FBL)
Item ID: 55394
Depositing User: Tomasz Wisniewski
Date Deposited: 12 Jun 2018 10:48
Last Modified: 08 Dec 2018 09:20
URI: http://oro.open.ac.uk/id/eprint/55394
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